Day’s Theme: A prominent move higher followed by a full retracement of that move.
Behavior Around the High: Not specified.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
A significant trade opportunity to close out of a short position.
Overview
On October 19th, there’s a rally in the pre-market followed by a drop around the open. There’s a breakout to the upside in the first hour and a half. We’ll then have a failed attempt to break through key resistance followed by a decline through key support. There’s a reversal between 1:00 and 2:00 that takes us into a notable rally. That rally ends with a fast, sudden move higher and then a breakdown through a diagonal trend line with increasing volatility moving into the last hour.
Sneak Preview
The halting of a bullish trend marked by a sharp decline through key support on a multi-day scale.
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